TDS Return
TDS Return is a quarterly statement submitted by the deductor to the Income Tax Department. It shows the summary of all the entries for TDS collected and paid by the deductor to the Income Tax Authority.
Advantages of TDS
- It prevents tax evasion.
- It generates revenue to government.
- Widens the tax Collection base.
- he burden of responsibility of the Tax Collection Agencies and the Deductor are lessened.
- It is convenient for the deductee as Tax is automatically deducted
Documents required to file TDS Return online
- TAN details
- PAN details
- Last TDS filing details, if applicable
- The period for which TDS has to be filed
- Date of incorporation of the business
- No. of transactions for filing TDS returns
- Name of the entity - Proprietorship/ Partnership/ Company/ LLP